Market in a Minute

Market in a Minute & StatPak July 2018

We profile the most important market indicators every month - contract activity, interest rates, inventory, affordability and direction of the market - in an easy to read and digest summary. It's not just the numbers; it provides context to understand why the numbers are important and what they mean for the future of the market. Published for Northern Virginia, Loudoun County, Washington, DC, Montgomery County and Prince George’s County.

A quick summary of last month's contract activity is shown below. To see the complete "Market in a Minute" reports for each jurisdiction we cover, click on the corresponding links.

What's The URGENCY Index?

This is simply the measure of the percentage of homes going under contract that were on the market 30 days or less, giving a sense of how quickly buyers feel they must act to put an offer on a home. To see your market's Urgency Index click the link to view the full report.

Northern Virginia - July 2018 StatPak with Contract Snapshot from June 2018

CONTRACTS:Contract activity in June 2018 was down 4.4% from June 2017 and was down for all but one of the six price categories. Through the first six months of the year contract activity is down 2.5%. The average number of days on the market for homes receiving contracts was just 31 days in June 2018, down from 37 days in June of last year.

Loudoun County - July 2018 StatPak with Contract Snapshot from June 2018

CONTRACTS:Contract activity in June 2018 was up 5.1% from June 2017. Through the first half of the year, contract activity is up 1.6%. The average number of days on the market for homes receiving contracts was 32 days in June 2018, up from 29 days in June of last year.

Montgomery County - July 2018 StatPak with Contract Snapshot from June 2018

CONTRACTS:Contract activity in June 2018 was up 1.2% from June 2017, solely because of a 5.5% increase in the number of condos going under contract. Activity for attached and detached home was down. Through the first half of the year, contract activity is down 2.6%. The average number of days on the market for homes receiving contracts was 34 days in June 2018, down from 38 days in June of last year.

Prince George's County - July 2018 StatPak with Contract Snapshot from June 2018

CONTRACTS:Contract activity in June 2018 was up 16.4% from June 2017, and through the first half of the year contract activity is up 20.1%. Prince George’s monthly and year-to-date increases in new contracts are by far the best in the region. The average number of days on the market for homes receiving contracts was 39 days in June 2018, up from 33 days this time last year.

Washington, DC - July 2018 StatPak with Contract Snapshot from June 2018

CONTRACTS:Contract activity in June 2018 was up 1.8% from June 2017 but was down 7% for homes priced less than $500,000. Through the first half of the year contract activity is down just 0.7%. The average number of days on the market for homes receiving contracts was 30 days in June 2018, down slightly from 31 days in June of last year.